Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

Commercial Property

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Transport and Logistics as well as pre-commitments are driving Melbourne’s industrial property market, with a shortage of serviced lots driving hikes in land values in some precincts, according to Savills.
Monica Mondkar, associate director research, Savills, said Transport &amp; Logistics accounted for 320,330 square metres or 36 percent of the 891,964 square metres leased in the 12 months to March 31.
She said the total square metres leased was down on the 970,317 square metres reported leased in the previous 12 months but remained well above the five year average of 740,010 square metres.
"Savills research also revealed a continuation of the strong pre-commitment market with the 251,270 square metres of pre-committed industrial space adding to the 316,191 square metres pre-committed in the previous corresponding period, bringing to well over half a million (567,461sqm) square metres in total pre-commitments over the last 24 months," she said.
"The trend to online sales in particular was a key factor behind continued growth in demand for warehouse and distribution centres.
"Melbourne’s industrial market has traditionally been home to a wide range of occupiers including manufacturing, engineering and wholesale sectors, however tenant demand from the transport &amp; logistics sector over the past two years has been increasing steadily and the rise in online retailing has been a key driver,’’ Ms Mondkar said.
"Household goods and housing construction were also significant industrial demand drivers in Victoria, as population growth continued to outstrip all other capitals.
Melbourne’s population growing at 2.4 per cent - the fastest in the nation – ahead of Brisbane (1.8 percent) and Greater Sydney (1. percent).
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="110">
Square metres reported leased   
</td>
<td valign="top" width="80">
Year to March 2017
</td>
<td valign="top" width="80">
Year to March 2016
  
</td>
<td valign="top" width="70">
Five year
  average
</td>
<td valign="top" width="70">
Year on Year
</td>
<td valign="top" width="70">
Five Year change
</td>
</tr>
<tr>
<td valign="top" width="110">
Melbourne
</td>
<td valign="top" width="80">
891,964
</td>
<td valign="top" width="80">
970,317                  
</td>
<td valign="top" width="70">
740,010
</td>
<td valign="top" width="70">
Down 8 %
</td>
<td valign="top" width="70">
Up 20%
</td>
</tr>
</tbody></table>
Source: Savills Australia Research
Greg Jensz, Savills’ Victorian Head of Industrial Sale &amp; Leasing said the very strong pre-commitment market was being driven by a number of factors including attractive rental deals and the lack of suitable stock.
"In some cases tenants are finding more attractive rental agreements than available with existing buildings but this has generally been negotiated over longer, circa 10 year lease arrangements," he said.
"In other cases buildings have been purpose-built to suit the peculiar requirements of tenants, for example cold storage users, which in most cases is simply not available, and generally these are larger requirements and so inflate total leasing data.
"A shortage of available serviced land had seen significant hikes in value.
"Land prices are through the roof due to a severe shortage of available serviced land.
"Small lots in the north are now going for up to $325 a square metre and lots of one hectare plus have sold for up to $250 a square metre.
"Meanwhile in the west small lots are achieving $275 a square metre and one hectare plus up to $210 a square metre.
"Embryonic growth of a new speculative industrial construction push was another factor driving land values, especially around key transport routes, however rental growth had not been a contributor.
"What speculative construction there is has, more often than not, been on land purchased some time ago at cheaper rates allowing construction to stack up for some developers at current rents."
Key industrial leases 12 Months to March 2017
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="141">
Tenant
</td>
<td valign="top" width="191">
Address
</td>
<td valign="top" width="77">
GLA sqm
</td>
<td valign="top" width="86">
Lease type
</td>
</tr>
<tr>
<td valign="top" width="141">
Seaway Logistics
</td>
<td valign="top" width="191">
11-25 Toll Drive, Altona North
</td>
<td valign="top" width="77">
16,144
</td>
<td valign="top" width="86">
Direct
</td>
</tr>
<tr>
<td valign="top" width="141">
Metro Trains
</td>
<td valign="top" width="191">
610 Heatherton Rd, Clayton South
</td>
<td valign="top" width="77">
24,065
</td>
<td valign="top" width="86">
Direct
</td>
</tr>
<tr>
<td valign="top" width="141">
Ceva Logistics (Toyota)
</td>
<td valign="top" width="191">
8 Doriemus Drive, Truganina
</td>
<td valign="top" width="77">
22,840
</td>
<td valign="top" width="86">
Direct
</td>
</tr>
<tr>
<td valign="top" width="141">
Isuzu Trucks
</td>
<td valign="bottom" width="191">
66 Foundation Rd, Truganina
</td>
<td valign="top" width="77">
21,685
</td>
<td valign="top" width="86">
Precommit
</td>
</tr>
<tr>
<td valign="top" width="141">
Anmar
</td>
<td valign="top" width="191">
14 Felstead Avenue, Sunshine West
</td>
<td valign="top" width="77">
15,720
</td>
<td valign="top" width="86">
Precommit
</td>
</tr>
<tr>
<td valign="top" width="141">
Woolworths
</td>
<td valign="top" width="191">
Portlink Estate, Dandenong
</td>
<td valign="top" width="77">
60,000
</td>
<td valign="top" width="86">
Precommit
</td>
</tr>
<tr>
<td valign="top" width="141">
Spectrum Brands
</td>
<td valign="top" width="191">
Chifley Business Park, Mentone
</td>
<td valign="top" width="77">
30,668
</td>
<td valign="top" width="86">
Precommit
</td>
</tr>
</tbody></table>
 Source: Savills Research
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j.ballantyne1990-6AQqhLzZaK

Transport & Logistics, pre-commitments, driving Melbourne industrial market: Savills

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Two premium streetwear stores within the Sydney CBD are on the market through Ray White by a private seller.
 Jonathon Holland from Ray White Business Sales said the businesses are situated near the heart of the Sydney CBD and are currently returning a net profit of more than $170,000 per annum from annual revenue of more than $450,000.
"The two stores each specialise in mid to high-end streetwear with one focused on menswear and the newest addition, focused on womenswear.
“The business currently stocks just under 50 brands in total and these include their own branded clothing, as well as brands such as Adidas Originals, Nike, ASICS, Champion, Puma, Reebok and Moscot.
“Proving to be a rare offering, the business is one of few Sydney Retailers stocking an exclusive range of international designer brands seeing it often attract crowds lining up down the street in anticipation of limited edition drops.
The new owner has the option to add new stock lines and continue with current store initiatives.
“The stores are located in a well-known and well-visited fashion precinct.
Mr Holland said the streetwear stores currently employ two full-time and one casual staff member and operate six days a week from 11am to 7pm.
The current lease for the main operation runs until 2019.
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Opportunity to acquire Sydney CBD streetwear stores

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Property group Charter Hall Group has announced that its Direct Office Fund (DOF) has leased several floors in the glass wall skyscraper, 1 Nicholson Street, on the northern edge of Melbourne CBD for an eight-year term.
Leading water treatment and chemicals company Ixom has leased three levels of the building.
1 Nicholson Street is Melbourne’s first glass curtain wall facade skyscraper, designed by Bates Smart and built in 1958. The building comprises 18 levels of office, ground floor retail cafe and basement parking.
It is located opposite Parliament Gardens at the intersection of Lonsdale/Albert and Nicholson/Spring Streets with commanding views and natural light throughout.
Head of Charter Hall Direct, Steven Bennett said, “We are pleased to partner with an existing customer to deliver property solutions that meet their individual business requirements and create value.”
“We are excited that Ixom will continue to be located at the iconic 1 Nicholson Street building, and that they value the quality of the building and its strategic location in one of the most desirable precincts of the city,” Bennett said.
DOF currently comprises 10 office buildings in Sydney, Melbourne, Brisbane and Perth with a total value of $1.025 billion as of December 31, 2016.
The fund is currently open to investors who can expect to earn 6.25% per annum income distribution with the prospect of capital growth and the advantage of partial tax deferred tax returns.
DOF returned 15.9 percent per annum in the 12 months to 31 December 2016.
This compares to the benchmark return - the MSCI/IPD Australian Unlisted Wholesale Property Fund Index - of 11.1 percent over the same period.
“DOF is a flagship fund for the Charter Hall Direct business,” said Bennett.
"Its key characteristics of long WALE (weighted average lease expiry), 100 percent occupancy, exposure to the strategic markets of Sydney and Melbourne accounting for over 75% of the fund’s portfolio, conservative gearing, and high quality tenants, is emblematic of the Charter Hall approach to property investing and a reason for our ongoing success,” Bennett added.
</body></html>

Charter Hall fund says Melbourne's iconic 1 Nicholson Street has new tenants

<html><body>
Six fully leased Melbourne childcare centres are on the market selling as a group or individually with prices around $7 million to $9 million each, or $50 million for the portfolio.
The six centres include:
<ul>
<li>66-70 High Street Road, Ashwood -   15yr + 10x10yr options. Net rental $486,218 per annum</li>
<li>105A Kangaroo Road, Hughesdale (above) -   20yr + 10yr option. Net rental $545,879 per annum</li>
<li>103-107 Koonung Road, Blackburn Nth -  20yr + 10yr option. Net rental $498,015 per annum</li>
<li>60 Florey Avenue, Point Cook -   20yr + 10yr option. Net rental $511,200 per annum</li>
<li>1 Toolambool Road, Carnegie (below) -   20yr + 10yr option. Net rental $438,697 per annum</li>
<li>37 Venice Street, Mentone -   20yr + 10x10yr options. Net rental $367,822 per annum</li>
</ul>
 
Julian Heatherich from Savills said the portfolio combines exceptional landholdings, quality buildings, geographic diversity and a tenancy profile that is rarely available elsewhere in the commercial property market.
"Put this together with built-in rental growth and significant income tax depreciation benefits in a rapidly growing, government backed industry and it is an asset that will find few peers,’’ he said.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/4/Carnegie%20CC%20Centre.jpg" alt="">
"The tenancy lists includes several highly regarded companies including ASX listed G8 Education, national provider, Guardian Early Learning, and Nino Early Learning Adventures.
"Investor appetite for well-located childcare investment properties was as strong as ever, with an increasing number of local and off-shore investors appreciating the combination of fundamental investment attributes available within this booming sector of the market.
"With recent child care sales at yields ranging from 3.89 percent in Thornbury to 5.1 percent in Rowville, investors have a fantastic opportunity to secure genuine value and compelling rental yields in this portfolio of properties."
Mr Heatherich said key drivers of the childcare market have been the rapidly growing nature of the childcare sector, the confidence that comes from the strong support the sector has from the Federal Government, and Victoria’s strong population growth.
 
The properties will be sold by Expressions of Interest closing Wednesday, April 26.
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$50 million Melbourne childcare portfolio for sale

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A investment property at Hobart has been sold for $1.2 million.
Located at <a href="https://www.realcommercial.com.au/property-retail-tas-hobart-502055826" target="_blank">52 Melville Street</a>, the 695 sqm property was originally built as a theatre and still retains many of its original features.
Dating back to 1896, the former theatre features imposing facades and high ceilings. Many of its heritage details are intact.
It is suitable for a number of uses and has a two-bedroom apartment on the first floor. 
The property was offered through Knight Frank agent Hayden Peck.
It last changed hands for $750,000 in 2006, according to CoreLogic.
It has been used for a variety of retail purposes over the past 40 years. 
 
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Former Hobart theatre sold for $1.2 million 

<html><body>
Malvern’s iconic Angel Tavern, together with eight adjoining retail and commercial properties, has been listed for sale with price expectations of more than $45 million. 
The properties are for sale via an international expressions of interest closing May 11.
The tavern is located on the corner of Glenferrie Road and Dandenong Road, Malvern, close to Malvern train station. It has a gaming licence and a drive-through bottleshop.
The total underlying land area is about 4,720 sqm. 
The listing agents are Colliers International’s Matt Stagg and Jeremy Gruzewski, and Gross Waddell’s Jonathan McCormack and Andrew Waddell.
“Holdings of this scale in prime eastern-suburb locations are scarce, especially directly adjoining a major train station,” Stagg said. “It provides the opportunity to secure an Urban Renewal Precinct and transportation hub in a bluechip suburb.”
The offering comes at a time when the Victoria government is encouraging strategic development of Urban Renewal Precincts and Metropolitan Activity Centres throughout metropolitan Melbourne to accommodate the city’s growing population, which is anticipated to reach eight million people by 2050.
The government initiative includes increasing the supply of affordable housing around activity centres that provide residents easy access to jobs, retail, education and healthcare services. 
Building near public transport networks that link with the $10 billion Melbourne Metro Rail Project is also vital in order to reduce traffic congestion and minimise Melbourne’s environmental footprint, according to a media release.
Stagg said there was excellent potential to activate the streetscape and create a  safe pedestrian thoroughfare linking Dandenong and Glenferrie roads with Malvern station.  
The Angel Tavern Urban Renewal Precinct has flexible zoning and valuable air-rights,  that allow for a variety of mixed uses, such as residential apartments, commercial, hotel and student accommodation (subject to town planning approval).
“Malvern is one of Melbourne’s most exclusive suburbs with a median house price of $2,300,000,” McCormack said. 
“However, there is a dramatic shortage of premium owner-occupier apartments and townhouses for affluent down-sizers who wish to continue living in Malvern once they have sold the family home.” 
He said projects such as Lend Lease’s successful Toorak Park at 590 Orrong Road in Armadale, which directly adjoins Toorak station, was an indication of the possibilities in store for the Angel Tavern and the block of properties on sale. 
The Angel Tavern plus the eight properties generate a solid holding income, said the listing agents. Vacant possession is readily available via aligned lease expiries and termination clauses.  
 
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Angel Tavern and eight neighbourhood properties in Melbourne listed for $45 million

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Experts predict commercial property will continue to perform well in 2017, although results will vary by sector and state so investors will need to be selective.
Low interest rates have led to increases in office, industrial and retail property values in Australia over recent years with buyers seeking yield-producing investments.
This trend is expected to continue.
For more information on what lies ahead in the commercial market, download our <a href="https://www.propertyobserver.com.au/images/2017/commercial_ebook/commercial_forecast.pdf" target="_blank">eBook here</a>.
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Commercial property market forecast for 2017

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Melbourne’s Little Lonsdale Street has set a cracking pace for the CBD’s 2017 investment statistics, with two key sales and a major listing.
563-567 Little Lonsdale Street (below) recently sold at auction for $6.63million ($19,776 per sqm) which was quickly followed by 361-365 Little Lonsdale Street (above), which sold off-market.
Colliers International’s David Sia, Oliver Hay and Daniel Wolman brokered the deal for 361-365 Little Lonsdale at $11.125million, a land rate of $18,480 per sqm, on behalf of a Hong Kong vendor.
David Sia said a private Malaysian investor purchased the leased property at a yield of 1.6 percent.
“The sale was indicaticative of long-term holders seizing the premium values achievable in the current commercial climate,” he said.
Both 563-567 and 361-365 Little Lonsdale are zoned Capital City 1 and have substantial development upside, Sia said.
Colliers International listed 102 Little Lonsdale earlier this month, a history-rich 1894 property (below) with boutique office potential.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/29/102%20Little%20Lonsdale%20Street%20Melbourne.jpg" alt="">
“This iconic residence is a premium chance to secure a truly one-of-a-kind CBD asset,” Mr Hay said.
“Each sale is indicative of a bullish market, confident in the consistent value-drivers of underlying CBD real estate,” he said.
102 Little Lonsdale Street will go to auction on April 19 at 1pm on site.
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Little Lonsdale off to big start

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Symond Arcade, on Churchill Street, named after the father of Aussie Home loans founder John Symond – who built it – has sold to a private investor for $30 million or so.
Whispers suggests it could have gone as higher.
The <a href="https://www.commercialrealestate.com.au/property/12-14-churchill-avenue-strathfield-nsw-2135-2013436106">arcade</a> is located directly next to Strathfield Plaza.
The block of 12 shops and 14 offices next to Strathfield Plaza had been scheduled to go to auction on Tuesday.
But it was pulled at the last minute when the Freyer family accepted an offer – understood to be well over the $25 million reserve price.
It sold far in excess of that, so the owners were happy, listing agent Robert Pignataro of Strathfield Partners said.
Robert said the 3 per cent yield represented by the sale price was typical of yields in the Strathfield area, where retail investments were usually between 3 and 4 per cent.
The property currently has a net rental income of about $918,691, with tenants responsible for all outgoings.
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Strathfield's Symond Arcade sold for $30 million plus

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Autobarn is set to join the line-up of retailers at the Millers Junction precinct in Altona North after securing a showroom for $2.36 million.
Located at <a href="https://www.realcommercial.com.au/property-industrial+warehouse-vic-altona+north-501461087" target="_blank">302-330 Millers Road</a>, Millers Junction is a mixed use development comprising large format retail, commercial space and grocery, food and beverage outlets.
CBRE’s Chris Parry negotiated the sale of the 700 square metre showroom, which forms part of the development’s second stage.
It will feature 74 architecturally designed units consisting of office warehouses, showrooms, plus food and beverage space.
Stage one of the development comprises a fully leased large format retail centre, including retailers such as Bunnings, JH Hi-Fi, ALDI, Officeworks, PETstock and Repco.
Parry said the sale highlighted Millers Junction’s increasing appeal as a sought after retail hub in Melbourne’s west.
“Millers Junction showcases the maturing market in Melbourne’s western suburbs, with the region’s strongly growing population supporting the development of additional and more sophisticated retail, employment and lifestyle precincts,” he said.
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